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ff initiates CERN (hold), Key Research: MS initiates AME/RBC (ew's) and HUBB/CBST/NBIX/NPSP (ow's) and OPTR (uw) Key Research: UBS cuts ADTN/PLCM, Stifel downgrades ENS, Wells downgrades NOVA, JMP initiates ACCL (op) Key Research: RBC initiates CF (sp) & cuts UPS, Capstone initiated NILE (buy), Piper
OD IM) (ow), Nomura upgrades EBAY (buy), CS initiates ELX (up), Axiom downgrades PWER cuts S SocGen downgrades REE SM, Panmure downgrades AZN LN, MainFirst upgrades MAN GY MainFirst upgrades SKYD GY, JPM cuts EN FP, CBS & MS upgrade FGP LN, DB raises JPM cable note (downgrade EON PL), Cheuvreux luxury
(up) • DA Davidson initiates T (buy) & VZ (neut), GS upgrades WHRNV & downgrades WAB ••• Janney initiates SEAS (neut), Opco initiates PSTG (pert), Stifel upgrades ARCB (buy) & cuts SNCR • Longbow downgrades BWLD & upgrades KMT, Piper downgrades PACB Europe Key Research: ••• Liberum upgrades SDF GY &
N SW from CL Sell list, JPM downgrades PAG LN ••• Kepler upgrades NESTE FH, LBBW upgrades UBSG VX & downgrades ABBN VX, Numis upgrades JMAT LN ••• MainFirst upgrades DSV DC, PWTN SW, KNIN VX & downgrades MAERSKB DC, SEB downgrades KCR1V FH ••• SNS downgrades KPN NA, Sparebank downgrades TGS NO, Nordea up
PRGO Key Research: cuts HRL (sell) Key Research: ISI initiates CVS/MCK/ABC (ow) & CAH/ESRX (mw) & WAG (uw), Mizuho downgrades ADTN Key Research: Stifel initiates TRN/GBX (buys) & ARII/RAIL (hold) & downgrades ADTN, BMO initiates AMZN (mp) Key Research: Raja downgrades AGP, Wells upgrades DIS, Canto
downgrades NEX FP & TEMN SW, CS initiates European IT Services, CS LN ING initiates DE NA (hold), Numis downgrades IHG LN, BofA uprades PHIA NA & MainFirst downgrades ASML NA, BofA downgrades BVIC LN, ING downgrades OR FP Reporting Pre-Open: FAST, PGR, CBSH, EMMS, TRIB Reporting Post-Close: ANGO, CERE,
blishes BDE (neut) •••• Opco initiates ZINC (op) & PANW/HXL (perform), SocGen initiates CTSH (buy) & INFY (hold) • Ascendiant initiates AMSC (buy), Stifel initiates ANN (hold), UBS downgrades ACN ••• FBR initiates DCO (op), Raja upgrades FFIV, B. Riley initiates MOVE (buy), EFTA00388232 • RBC initia
upgrades YKBNK TI, ING initiates SIP BB (h) • JPM upgrades DEB LN, Kepler initiates IPG IM, Enskilda upgrades IJ SS, SocGen initiates INFO IN (h) • MainFirst initiates LUX IM (op), SFL IM 9op), Prada (op), SFER IM (op), TOD IM (up), BC IM (up) :••• MainFirst upgrades KER FP and downgrades CFR VX & RMS FP,
Entities connected to both Stifel and MainFirst

Lesley Groff
PERSONIke Groff
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Barron
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Bloomberg L.P.
ORGANIZATIONBaird
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Barack Obama
PERSONJefferies
ORGANIZATIONBarcap
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Piper
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Wells
ORGANIZATION
Michigan
LOCATION
Angela Merkel
PERSONNomura
ORGANIZATION
Horizon
ORGANIZATION
Moody's
ORGANIZATIONCanaccord
ORGANIZATION
Stanford University
LOCATION
François Hollande
PERSON
Tony Blair
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Michael Jackson
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